Finance
A NJ property owner who is 'underwater' on their mortgage means:
AThe property has a flood issue
BThe outstanding mortgage balance exceeds the current market value of the property✓ Correct
CThe owner missed one payment
DThe property is in a flood zone
Explanation
Being 'underwater' (or having 'negative equity') means the owner owes more on the mortgage than the property is currently worth, making a traditional sale without loss or lender approval impossible.
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